Reality check of UCBs of Goa!

Goa Chief Minister Manohar Parriker is now training his guns on the urban cooperative banks in the state. Several UCBs are in a bad financial shape, say reports.

While discussing Goa State Cooperative Bank in the State Assembly Parriker also touched upon the issue of urban cooperative banks and said govt is likely to conduct a check on financial conditions of all urban cooperative societies.

Readers would recall that one of the leading UCBs Mapusa Urban Cooperative Bank has currently gross non-performing assets (GNPA) of Rs 25 crore. The bank’s accumulated losses are at Rs 55 crore. RBI has put the bank under severe restriction which it is fighting in the court.

On Goa State Cooperative Bank Parriker said the co-op bank is not in good shape and the government wants the board members to go so that it can put the bank under an administrator for improvement.